Climate Action and why should this be a mission

#What is climate action? It deals with the efforts pooled in by the countries to reduce greenhouse gas emissions and strengthen adaptive capacity and resilience to climate-induced impacts, such as strategizing and climate action plans, raising awareness about the importance of climate action, enhancing human and institutional capacity concerning climate change mitigation, adoption of renewable energy sources, moving towards greener resources, etc.

#Climate Action Plan – UN SDG Goal 13 Amongst the 17 Sustainable Development Goals, UN SDG 13 deals with taking urgent action to combat climate change and its impact, with key climate action targets such as:Sustainability-Impact Strengthening resilience and adaptive capacity to disasters related to climate Integration of climate changes measures in planning and policies Building knowledge and capacity to meet climate change Implementing the un framework convention on climate change Promoting mechanisms to raise capacity for planning and managemen

#The Changing Winds Of Sustainability Limiting climate change would require a dramatic shift in investment patterns and focus on investing in climate-resilient development, inclusive of infrastructure investments, which is estimated to cost around the US $4 trillion a year by 2030. Amidst when, concerning climate action, businesses have announced net-zero target of emissions by 2030, a recent analysis performed by PWC shows, just about 8% of the world’s largest companies, which are represented by the Global Fortune 500, have committed to becoming net-zero, which leaves us with an overwhelming and blur picture about the comprehensive climate action plan.sustainability To achieve something concrete, climate change action by all the businesses and industries would matter, irrespective of their size. The gap between high-profile announcements and low participation is just a part of the series of prevalent gaps between the ground realities and climate change needs. In the process, tech-driven companies would play a major role by offering technically advanced solutions, products and services functioning on real-time data, artificial intelligence, digitization, etc.

#Embedding Sustainability in The Core Of All Business Propositions While laying paramount importance on climate action plan and strategies and embedding sustainability in our core offerings, at Schneider Electric, ‘Our biggest energy and sustainability challenge in the past 12 months has been striking a balance between realistic and aspirational targets for clean energy.’ To have an idea about the status of adoption of climate action activities by businesses, in 2020, we surveyed sustainability and energy professionals, c-level executives, etc., of different companies and established, 22.7% of businesses stated they do not have any concrete climate action plan to address the climate risk for now, but it is in development; 6.8% of them said they do not have any climate change action plan at all, etc. And, in 2021, only 33% of them could say that they are very well prepared with climate action solutions. With such a response, it might not be easy for us to achieve the set climate action targets.

#Climate Action Solutions If we talk about climate action, we cannot have definitive solutions for coping with climate change. Rather, it would be a constant process of innovations and inventions, wherein businesses, government and citizens need to participate and adopt innovative and technically advanced solutions to convert our energy sources to renewable energy sources, incorporate the use of digitization and artificial intelligence, etc.

#Climate Action Solutions: Digitization and Its Impact To help businesses cope with the problems of insufficient data and others, it is essential to create a defined plan with the support of concrete data and technically advanced solutions. At the heart of these climate action solutions lie – digitization and innovation. To lead in the climate crisis would require factoring climate risk into business strategy and identifying innovative digital opportunities to drive change and develop a well-devised climate action plan. Here, shifting towards digitization would help businesses in streamlining data, strategizing it and making informed decisions faster and smarter. We’ve mentioned below three key enablers: